The bill would decriminalize and deschedule cannabis, establish federal regulation of cannabis products, and impose taxes on cannabis products produced in or imported into the United States. It would require judicial districts to review and expunge covered Federal cannabis convictions and juvenile delinquency adjudications, and allow petitions by individuals who are not serving a criminal sentence. It would also create grants and other programs for people and communities adversely impacted by the War on Drugs and support cannabis research and related programs.

FactVote-generated overview; it is not an official CRS summary.